SOLVE finally showing buy signals, target 2500 SAT
Hello guys,
I am back to share my TA with you!
After months and months of downward price movement, finally there are some good signs in the chart again.
After breaking all of the support areas, it found support at the lowest regions at around 1000 SATS.
Last time I told you ‘Price is now at a strong support level and I think there is a good chance of bouncing right off this and breaking the falling wedge, but this is just my hypothesis and you should wait for a confirmation on the chart before trading’. Since then we have seen a fake out down in the chart, this isn’t uncommon in falling wedge patterns. Now price has broken up and showing buying power.
There is also bullish divergence on the RSI and Price movement, which means price is about to do the opposite of the trend (and the trend is downwards clearly). My target is 2500 SATS (based on extrapolation of the falling wedge).
Trade safe!
I am back to share my TA with you!
After months and months of downward price movement, finally there are some good signs in the chart again.
After breaking all of the support areas, it found support at the lowest regions at around 1000 SATS.
Last time I told you ‘Price is now at a strong support level and I think there is a good chance of bouncing right off this and breaking the falling wedge, but this is just my hypothesis and you should wait for a confirmation on the chart before trading’. Since then we have seen a fake out down in the chart, this isn’t uncommon in falling wedge patterns. Now price has broken up and showing buying power.
There is also bullish divergence on the RSI and Price movement, which means price is about to do the opposite of the trend (and the trend is downwards clearly). My target is 2500 SATS (based on extrapolation of the falling wedge).
Trade safe!
Forget to tell you that this recent price action is actually bigger news than it seemed at first sight. The RSI broke months of resistance, that is big positive news. Today is also a good 6% gain while the rest of the market looks frozen.